Emmanuel Vanbrussel

Belgium is entering the European defense investment arena with two new public-private initiatives, one at the federal level and another from the Flemish government.

Fannie Wurtz from Amundi Asset Management, notes that a striking number of Asian investors are channeling their savings into European funds. The French executive is also optimistic about the sector’s long-term prospects. “Several megatrends are driving the European market.”

The relaxed rules around Eltifs, the European vehicles for non-listed investments, are leading to a series of new launches. However, not all market players are equally enthusiastic. Many are still adopting a wait-and-see approach.

The gold price has already risen by more than 40 percent in a year. Private banks are not deterred by this significant price increase from designating the precious metal as the ideal hedge against geopolitical turbulence in the Trump II era.

The European Commission has pledged to simplify regulations for sustainable funds this year. Frédéric Vonner, sustainability expert at PwC Luxembourg, hopes that transition investments will gain more recognition in the process.

Europe’s financial watchdogs are setting their sights on non-bank financial institutions (NBFIs), a sector that has grown increasingly prominent as an alternative to traditional banks in providing credit.

Although no progress has been made this year towards a European Capital Markets Union, William De Vijlder, former Chief Economist at BNP Paribas, remains cautiously optimistic about building a stronger financial Europe. According to him, four groundbreaking reports from the past year point the way forward.

William De Vijlder (64) retired this autumn as the chief economist of BNP Paribas. In a farewell interview, he reflects on four decades of economic analysis. ‘Everything is even more interconnected than I once thought, which makes it incredibly fascinating.’

2024 was a year of further consolidation in the Belgian private banking market. Many are eager to see what room for manoeuvre Degroof Petercam will have under its new French owner, Indosuez.

The war between Russia and Ukraine is prompting European asset managers to reconsider defence stocks, partly at the urging of their clients.